Weighing the Cost of Capital in Asia

Investment Philosophy

By
By Lawrence Strauss

Updated Oct. 19, 1999 11:59 pm ET

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T wo years ago, investors fled Asian stocks as the region's economy collapsed. But the outlook has brightened considerably since then -- particularly in long-suffering Japan. In the third quarter, many top-performing U.S.-based mutual funds had major holdings in Japanese stocks. Paul J. Fraker, who manages the $80-million 59 Wall Street Pacific Basin Fund, has compiled a strong record picking Asian -- especially Japanese -- stocks. During the 1997 selloff, the...